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Insurance and Financial Services (As % of Service Imports, BoP) in Belarus

Source: World Bank
Last Updated: Oct 1, 2021

Insurance and financial services as a percentage of service imports from the balance of payment reached 5.10 % in 2020 in Belarus, according to the National Central Bank / OECD. This is 9.58 % less than in the previous year.

Historically, insurance and financial services as a percentage of service imports from the balance of payment in Belarus reached an all time high of 11.3 % in 1993 and an all time low of % in. When compared to Belarus's main peers, insurance and financial services as a percentage of service imports from the balance of payment in Lithuania amounted to 2.60 %, 5.18 % in Poland, 5.09 % in Russia and 6.55 % in Ukraine in 2020.

Belarus has been ranked 64th within the group of 96 countries we follow in terms of insurance and financial services as a percentage of service imports from the balance of payment, 27 places above the position seen 10 years ago.

Insurance and financial services (% of service imports, BoP) cover various types of insurance provided to residents by non-resident insurance enterprises and vice versa, and financial intermediary and auxiliary services (except those of insurance enterprises and pension funds) exchanged between residents and non-residents.

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